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yesterday the lack of any talk of fiscal restraint. we know regulations, taxes are going up 2013. kudos to corporate america for pulling in these numbers in this environment. >> how about david garrity? you want to weigh in on these numbers. >> 4% gain on the stock. >> on the ibm numbers, fear there would be around the conference call four years ago. their main stram, which they just launched to september saw good acceptance in the fourth quarter and all the concerns that people had about corporate investment and all that because of the fiscal cliff issue, tax reform. obviously these being put bait by what numbers are being put up in terms offing revenue strength. ibm a good bellwether versus tech bjorklund and paul, david, thipg thank you. my friend snow greco, when do you think in the market will go higher? >> i'll just plead the fifth on that. >> all right. i hear you. thanks for joining us. michael, rich, always good to see you. >> thanks, guys. >> to wrap up, ibm's solid beat on the bottom line and top line better than expected. >> google. top line. bottom line, we're working on it
and leave high tax california? of course he should. we'll discuss his comments. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> presidential inaugural addre addresses are supposed to be less than a campaign speech. listen for yourself. >> fidelity requires new responses to new challengemis. preserving freedoms requires collective action. to me that spells more government. but listen to this next one. >> the co
the white house won't deliver its own budget in time and still wants to raise more taxes. we're about to hear a response from a republican house member. >>> that's not all. fed chief ben bernanke is saying it must raise the debt ceiling and that the fed is going to keep buying bonds for now. on this one-month anniversary of the heinous, awful newtown shootings, the sheriff comes out in favor of banning assault weapons. "the kudlow report" begins right now. >>> first up tonight, president obama slams the republicans. he says no gimmick, no magic coins. just the plain old standoff on the debt ceiling. who is gonna blink first in this? john harwood joins us from washington with the details. good evening. >> good evening. the president used the last news conference of first term to draw an ever-brighter line with congressional republicans on the debt ceiling. they say they want dollar for dollar spending cuts to be matched with an increase in the debt ceiling. the president said i'll negotiate with you, but not over the debt ceiling. he simply is not going to allieu republicans to take th
. it would be progrowth and no more tax hikes by the way. spending and the debt are the top issue of concern for voters. look, these heinous mass murders are not about weapons. question -- why isn't anyone tackling the really tough issue that may be the root causes of these atrocities? such as broken families, such as the absence of fathers who set examples for their sons? such as the loss of faith in our schools? such as our homes and our culture that have lost faith as well. tonight, we are going to talk about the family values breakdown in america. "the kudlow report" begins right now. another key point tonight. for most of the history, america drew at 3.5% per you. the last dozen years however, we have dropped below 2%. and the so-called obama recovery is just a tad above that 2% rate. which should be unacceptable. it is the worst in the post world war ii era. so the question tonight, what's holding back the american economy? here's my quick road map for an economic boom. start off with major cuts in government spending. we should stop paying people not to work. then cut large and small
phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results. more on them in a few minutes. let's get you ahead of the curve. google is getting ready to report its latest results after the bell. fears about an ad revenue and major focus on those shares. google right now is down 3 bucks on the trading session. john is in silicon valley with what investor s need to know ahead of the numbers. >> couple of important themes this quarter, mobile and mobile. mobile's impacted on the core business. as more people do searches from mobile devices, google's revenue has been coming down. it's more than likely this trend will continue as smartphone and tablet sales spike. cbc could come down 11%. it was down 15% last quarter. then we have the nexus 7 and nexts 10 tablets. in q3, some analysts estimate google sold around 100 million tablets. and then you have motorola, and i am hearing the mobile phones are not selling that well. last
taxes as the most important issues facing american small businesses and that's double the response for any other issue. the next two were government and relagz. in other news, walmart will announce a plan to hire every veteran that applies for a job. the only requirement? the vets need to have retired from the military within the last year. >>> the house will begin to debate on a $51 billion plan for superstorm sandy victims. more than 90 amendments will be filed by friday. earlier this month, lawmakers approved $9.7 billion to help pay flood insurance claims from the storm. the senate is expected to pick up whatever legislation the house approves, but things are getting testy at this point. you are talking about over 75 days i believe at some point since the storm actually came through. governor chris christie of new jersey has been making harsh comments about how you will not expect in the past of seeing any of the representatives from this area of the country who were voting down bill toes help aide flood and victims in iowa. he doesn't want to see breaking down into you scratch
mickelson, why is he paying 62%, 63% tax? >> i like the nike add. >> all that, plus the opening bell in just a moment. [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> you're watching cnbc "squawk on the street" live from the financial capital of the world. the opening bell is going to ring in a little less than 90 seconds. a busy week. everything from apple to microsoft to bristol-myers reporting earnings. we talked about some of the highlights. also, davos happening. you never know what could come from the other side of the planet. >> a lot of hitters there. periodically getting a new story. we have maria over there, and steve liesman, i mean, it's really -- we're bringing out the big guns. we've got
as if the democrats are the parties of tax and spend, the republicans are the party of borrow and spend. did you see any evidence of the bush administration that there was any entitlement cutbacks? i don't believe most republican politicians have discipline when it comes to spending or they wouldn't have been nearly as profligate, give me a break. this won't be much of a show count. republicans -- come here, come here, the republicans, they don't want to cut spending either. embarrassing the president is one thing, but actually offering plans to cut medicare, social security, defense, oh, please. i'll believe it as i see it, even though i think it's important that it be done. both parties guilty of too much spending. the democrats witt vitriolic, t to make money to pay for it. and enough politics. the american investor figures out we're pretty long through the united states of three-ring circuses. the most important spur for investment is confidence. three issues that held up business formation and stock investing for a long time. put a drag on it. uncertainty of the presidential election, uncertain
tonight as well and a new tax on every share of stock you trade. she loves this story. looking more likely in europe. could it be a coming to wall street as well? the cd of td ameritrade will be joining us for that, among other things. earnings and lots more to talk with fred about. >> retail and whether investors are coming back. big nightmare for boeing, the dreamliner with problems and its stock still down. right now the news is not getting any better for the aircraft-maker. >> we've noticed a trend lately. you see some selling in the morning and then buying in the afternoon, and we have often thought of the afternoon trade as the smart money. >> and you see it right there on the intraday chart. i am so old, phil, i remember we introduced the infraday chart, a phenomenon that we could see what what is happening tick bytic, and there you see the pattern. >> and i'm so old we were handwriting the intradate chart. nasdaq doing the same thing. back in positive territory after spending much of the day negative. up three points right now at 3138, and the s&p, any positive close for the dow in
to give their approval to allow 11 states to start preparations for imposing a tax on all financial market transactions and measures likely to unsettle banks and houses. for more on the story coming out of europe today, let us head to london to kelly evans who is standing by this morning. i like that necklace. i don't know what it means -- what it's saying to me. it kind of looks like -- >> it's telling you to buy goad, joe. it's a subtle signal to investors. i coordinate my wardrobe with the prevailing market move. >> yeah. >> i was thinking you were stepping out there. is that attached to the wall behind you? are you allowed to move or has ross got you -- >> it's attached to my wrist here with the same thing going on. >> oh, my god. i am actually chained to the desk here because ross westgate, lake-effect snow, is in davos and he will have the very latest out of there and "worldwide exchange" for the rest of the week. we'll also see maria bartiromo there. in the meantime, before that meeting gets under way, france and germany are celebrating their friendship treaty today. it's all about
that dividend taxes were going to go up dramatically. even down to the last day of december. you come in, dividend taxes barely go up. i find that, like facebook, which we're going to talk about in a moment, we're not really privy to what's going on. it kind of drives me crazy. we're in a democracy and you're supposed to know. but i do feel that when i look at spain, when i look at france, when i look at germany, i look at the united kingdom they do not get caught up in this kind of wrangling. they are better governed nations right now. >> that's easy to say, i guess, when your comparison seems to be what is a completely dysfunctional congress at this point. jim, how do you go about trying to gauge how to even play this? you look at what happened over the end of the year, the fiscal cliff. and at the end of the day you might take away, well, they did get something done and the markets reacted positively. look at the rally in the first week of the year. do you approach it the same way? it seems to be to a certain extent we're not ignoring it, but at least saying i'm not going to -- >> i d
that everybody is in lockdown mode as we wait to figure out what our tax rates are going to be, where the spending cuts are going to be, that it is going to impact the economy. my question is how much of an m impact going to see earnings? are they going to get hit? >> that's the key to the whole thing. as we said, the beige book numbers, when they came out there were cents. see earnings coming out, we will see comments and none are going to be positive. none will be excited about the future, and stock prices and multiples expand when people feel possible about the future. going to impact them? numbers might come in spot on. the whisper numbers, everyone is looking for, meaning hoping the numbers are a little bit bitter. i think as numbers come in, we'll start to see very little movement going north, unfortunately. >> the followup to that is how much of all of that is priced into the market? does the market react negatively or positively when in fact we see the earnings took a hit? >> in fact, rick santelli, had a slew of economic data out, the beige book and lieu it all the market is
about higher taxes and kept heading to the stores. consumption makes up 70% of the u.s. economic growth. the debt ceiling debate, a presidential report card, and a quiet market rally. what does it mean for your money? joining us now, jared bernstein and former chief economist to vice president biden. also with us is a chief investment strategist with blackrock. thank you so much for joining us. >> thanks for inviting us. >> thank you. >> russ, let me kick it off with you. friday, a pretty good rally. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people are nervous in december. they're coming back into stocks. that's a good thing over the longer term. we do have some issues coming up. the debt ceiling, obviously one of them. the second question is as we start to get january's economic data, how big of a hit do we have from the tax incre
's not as big as it was. the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary c
debate, it can be far harder to solve than the taxes, we think the market can be down for a while, and before it comes back up. >> so you're looking for a decline, and perhaps that is an entry point for some. do you agree with that? >> i think any decline is an opportunity to buy, maria. i'm very, very bullish on u.s. equities and one of the main reasons i am the u.s. energy story which i think is a story that's not being told as well as it should be. in 2012 the u.s. oil production was up 16%. that was the biggest year over year increase in u.s. oil production since 18 at which just happens to be when we started producing oil so if we think about what's going on. we have right now -- right now we produce oil at 80%, the same price the rest of the world does. we produce natural gas at 25% of the price the rest of the world does. we have cheap energy here in the united states and we feel that will drive manufacturing back to the united states, create jobs, and when all this political stuff is over, that's going to be a big story that we'll talk about ten years from now. >> these ar
is hungry for that after getting hosed in that high tax bill. >> i think you're a bit off, larry, respectfully in that republicans i think want to have these spending cuts. but they're picking a strategic battle. and you could be right in saying they're picking the wrong battle. but they don't want to have the spending battle on the debt limit. they want to have it on the cr, that continuing resolution to fund the government for the rest of the year. >> well, i am 100% -- look, i do not want to mess with the debt ceiling. i don't want to mess with that. that's a domestic and international global meltdown. so to that extent i agree. i just didn't hear the rest of the story laid out very coherently regarding spending. i didn't hear it from paul ryan, and i didn't hear it from the leaders. and that's the part i don't get. the debt ceiling, three months, whatever. the continuing resolution, that's a little bit in the weeds. but all right. fine. you can work with that. but i didn't hear them say what that was going to mean for spending, either. >> that's a great point, larry. they're
nothing to do with our inability to govern our own spending and taxes. but anytime one tries to hold it, that is when it is wrong. whatever you want to call it, when you have a moral and constitutional obligation you shouldn't mix it up with things you want to do politically. i come back to you, there is the see quester that was done in late 2011. and on top of that, we have to have a continuing resolution to let the government run. my suggestion is that you give yourself time to get that done. >> maybe we can rise beyond some of our constituentsys which are screaming in our ears don't compromise. >> maybe you can change the order that these fall. if you want to line up where you are spendingwise. but i have to disagree with my buddy charlie and i think the moral obligation here and the way that you keep us from being downgraded how do we tell the markets that we are doing something to tell the debt curve what it is about to do to the country. >> if it looks like you are trying to parcel out, there are 80 million payment accounts in the american government and you are rying to give out
that fiscal cliff deal where dividend taxes just went to 20%. a lot of upset and anticipation that it would go higher but 20% is a great number. >> exactly. >> steven hammer, setting some highs of the day right now. you're bullish at least for the short-term here, how much higher do you go? >> i have no doubt in the next six months. we could potentially see anywhere from a 5% to 10% increase in the u.s. stock market, but we need to be cautiously optimistic, and to us it's all about earnings and it's all about volatility which is why we wait based on risk, and investors need to be cautious to where they invest money and they still need to stick with quality. >> okay. hank smith. what's going to take us to these new highs, do you think? >> well, look, i think we've seen in the beginning of this year finally some money coming out of bond mondayfunds going i equity funds. for five years it's been just the opposite so perhaps we're at the very beginning of what could be a very powerful trend providing a ton of fuel to the equity markets, and we agree. look, dividends are still very attractive, as l
story. the end of the federal tax holiday has to hurt retail doesn't it? and the facebook disappointment. you have this mystery announcement coming. instead we have an announcement of a tool to search on big social networks. what a bust. yet the market didn't get hammered and then we got the nap time and the fresh bull came to play into the bell. what is happening here? there have been different time as long the way up where we had this same exact situation like what we are seeing here today. another occurred in the first three years in the '.90s. and every single case, every single one i can recall we get this moment where the market didn't get tired, but the analyst did. many big cap stocks had run up into their price points. and they stayed bullish or they actually even raised price pointed and it was a mistake. and i'll tell you, let's use it, an endless target party. 700 goes to 900 and only if there were a two for one stocks play. the analysts were gun shy. not the cheering, but the support of analysts who might be able to recognize that buzz is good enough. given the litany of eve
. >> jared, is there a realistic prospect for something that could respectably be called tax reform or is that simply an exercise to raise a little bit more revenue? >> more of the latter than the former in my humble opinion. it's great they're all getting along today as hampton was telling us, but the idea of very deep tax reform seems pretty difficult given the disagreements up there. on the other hand, you were mentioning this earlier and i agree, the deal will involve both revenues, probably from the tax expenditure side, and spending cuts, and as has been said, the president has significant spending cuts on the table. >> corporate tax reform? >> possibly, but i'm not sure -- that again is going to be lower rate, broader base. i don't know if that's real massive tax reform. >> a second coming out for the obama daughters who have grown up before our eyes. >> people say that the president looks older. those girls look older than they did four years ago, and they, of course, have grown up in the bubble of the white house. >> in percentage terms they've gotten older than he has. >>
taxes up to the level where you fund the promises that we've already made. the entitlements that we've already made and the guarantees we've made, they just want to raise taxes on somebody. i don't know who, to the point where we never actually reform medicare, medicaid or social security. >> the question i want to ask him, is there ever a time that he's making, is it now given where we are in the economy? >> well, the question is, you put in a hundred and you take out 400 in medicare and the government covers 300. >> and it makes no sense. >> well, no, but there are people that think that the government's roll is to provide that 300. and so we should raise taxes to the point where you -- it doesn't matter that you -- >> right. >> it doesn't matter. that is the redistribution. >> that's the agal tearan notion or the equality, the fairness in outcome. >> i'll give it to him. we'll ask the question. >> i just hope you got fired up watching lance. >> i'm fired up watching lance. i'm fired up for that interview. >> i can tell he hurt you. i could tell from when you were over there, you
million r tax adjustment and $376 million from something and $700 million from reduced mortgage loan loss. jamie dimon said challenges still exist but as we look forward to 2013 -- let me finish this thought, we look forward -- we remain optimistic. we're committed to doing our part to speed the recovery of the housing market and we continue to see favorable credit conditions across our wholesale loan portfolios. at first blush. go ahead, andrew. introduce chris. >> chris whalen is here to respond to these numbers. i'm here to say they also put out on their website today. what do you make of these numbers? >> similar to welles making up a lot of earnings numbers with cost cutting, very important. a little light on revenue, i think the story of most banks going into 2013. my guess is interest margins continuing to squeeze because of the fed. >> that's not going to get better. >> the benefit from the fed has gone by on net and tt an alarmi rate and the time's gone >> what's your thoughts on loan growth. >> as jamie said he's trying hard to put on assets, everyone in the industry is. but wit
. so more invasionive in terms of taxes, which clearly is happening. and less alienled on whgned on about it. should government tax harder or should spending be cut harder? not only is there no agreement, but the democrats now are saying, listen, forget the debt ceiling. let's get rid of that silly little thing. but do we actually need a budget? >> so we're learning that we may finally get a budget for the first time in what, three years? significant, though, because these are just templates. >> i great, they are templates. but letting go at a time when the debt is compounding is worrying. however, having said that, you can get worried about that as a market participant, but as long as the federal reserve has open ended quantitative easing, nothing is going to happen from the long end. >> from a market point of view, we were talking about allen capper about this last hour. but from a market point of view, the best outcome is something that lowers the long-term debt outcome. but we keep get ago worsening of the long-term debt profile and a hit to the near term. that is a mix that
reforms, they're talking about tax reforms, as well. this will be a multi layered process and hopefully they'll be in power long enough to deliver some of those changes. i think the market was expecting for the bank of japan to come in .deliver everything that was going to solve all of japan's problems after decades of recession, then they were probably misguided. but for the moment, the reaction we're getting from people who were watching japan is they probably took as many steps as they could today to try and address this decision. >> kaori, stay with us. ed, welcome. you just heard a little bit of the back and forth. what's your own opinion here on what the boj has or hasn't delivered? >> good morning. thanks very much for having me on the show. my opinion is i completely agree with everything kaori said. even more than that, i would say to the viewing audience, look, this is the cramer moment for japan where you bring out the bells and the whistles and you toot the horn and you tweet and you pound the table and you run around the room saying buy, buy, buy. the framework is now in pl
demands the wealthy pay their fair share of taxes. but, he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids, and gun free zones for ours. >> all right. the white house called the ad repugnant and cowardly. i think they are right. can i say something about this partisan back and forth. we have just come out of a heinous mass murder atrocity which is of course a complete national tragedy. all right. is it possible, just once that the republicans and the nra and democrats and the president can stop this cheap unseemly squabbling just once? may we have a civilized conversation about what this nation can do to avoid another horrible sandy hook? all i want, all i want is a civil conversation. there's a lot of very complex pieces here and they need the best minds to figure this out. i just want the squabbling to stop. this is worst than the fiscal squabbling and the debt ceiling. you know why? the stakes are higher. we're talking human lives. those little baby angels. let's try in their memory to figure something out if stead of hurling epitha
mean, you really think we must be doing terrible. we have higher payroll tax, a gridlock in washington, but the actual job growth is very out of sync, and it almost says like, listen, we got rid of this, let's start hiring. we may be looking at this debt ceiling, and i'm going to invoke shakespeare, the bard, that this may be much ado about nothing. i'm going there. right here. >> right now? the cliff is -- >> don't you love -- you know, when i first heard, i thought what a great title, i said no, moran, take the shakespeare course first the it's going to be claymation death match, maybe ufc, you and i watch that in our spare time -- not -- but i don't think it's as important as getting through the fiscal cliff. people are hiring again. >> dow transports continue to hit six-year highs. >> even as crude is up 95. >> it's like a market that has transport leadership. did you see union pacific? we had mike's southern on "mad money" he says point-blank, the hole has bottomed and is starting to go higher. and be good to the shutdowns, the coal plants. don't forget china has been burning coal
and costs were pretty moderate in the fourth quarter, and i think with the -- with the change in the taxes that came through in january, usually better for staples than consumer discretionaries so hopefully we'll get good numbers from there. >> where would you be investing, peter sorrentino? you said you like the early cyclicals? what does that mean? who do you like here? >> well, really it's a wide brush right now. we like refiners, the volero of the world. marathon petroleum spun out. that's an opportunity and agriculture, companies like lindsey, adco. do like the brazilian market. the real suffered last year so a lot of companies are on sale, cozian and volley, after great opportunities for investors, considering we've got a strong theme in the emerging markets that will continue this year. >> peter, thanks for joining us, rick as always, andres and christian come back when you can stay longer. >> i will. thank you very much. >> see you later. less than an hour finishing off what's been a pretty good week for the bulls on wall street. bob pisani has been in the middle of the action and
of the upcoming debt ceiling and laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jelly sandwiches rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, double where we were not that long ago, and the analysts were determined to tell you housing is about to go all tepid, numbers don't fit into the scenario, not a negative one and that's the story of the market right now bullish backs getting in the way of the bearish story. now, i will tell you on any given day, we're capable of a serious swoon and we are due for one. holy cow. maybe dow and intel not so hot tonight can cause one sell, sell, sell. this feels like a moment like the mid 1980s where the bulls areaa lay boeing. it seems like when i was a young, curly haired kid. i want to see the amazing con colombia ra glomerate. one of those rare things, when you can get an audience with an investment titan. he heard i had a hot hand.
strong gains since q4 last year. this despite talk of delaying the property tax reform due to insufficient planning and law making. >>> in hong kong all eyes on the chief executive's maiden policy speech with a focus on measures to tackle the housing crisis. developers reversed earlier losses to finish in the green, but telecos and energy majors dragged the market lower, ending down by a minor .1%. elsewhere, south korea's kospi finished marginally in the red. apple suppliers continued to weigh down the market over demand concerns on the iphone 5. the australian market bucked the down trend with the defense of telecos and health care stocks lending support. the sensex in action trading down by .5%. back to you. >> all right. thanks for that. we'll take a break. >>> still will to come, hong kong selling out new plans to show up housing woes. >>> okay, let's bring you up to speed with stories. hong kong's chief executive has delivered his first policy speech outlining measures to cool property prices, reduce pollution, and improve welfare. he said it's necessary to curb specu
they will need to save a bit, increase taxes, but now it's clearly showing that their budget can be taken under control, as well. because if not, i think the market is going to punish them, either with a credit downgrade or with higher yields. and that seems to be the trend for 2013. that's higher yields are almost a given. >> sorry. people are going to stop buying u.s. treasuries. what had are they going the buy instead? >> well, i would like an acronym on that one. it's call tiana. there is an alternative and the alternative would be equity. what we've seen is there's a rotation within the fixed income sector going from, let's say, the save bonds cash, save bonds and up the scale on the corporate level. first investment grade to now we see many investors buying high yield and emerging market debt. but i think they haven't crossed the bridgette towards equity. and that's just a matter of time. if the yields on, the high yields are at the same level. i think you actually make an upgrade on your credit policy and you have the same -- the same level of income. but i think that is clearly an alter
wanted 45 cents. intel turned in 48. looks pretty good, right? part of that was due to a tax benefit. intel specsed a tax rate of 27% and got 23%. that helped a bit. gross margins came in stronger than expected at 58% where intel had guided to a mid point gross margin of 57%. but there was bad news beyond that for the investment community. for q11, intel guided to a mid point in revenue of $12.7 billion, plus or minus a half a billion dollars. and for the full fiscal year, 2013, intel said just expect low single digit revenue increases, growth margin to 60% and cap ex at $13 billion. that is a couple billion higher than wall street had expected. >> jon fortt there. we'll have more on china to come. our next guest weighs in. don't go anywhere. >>> welcome back to "worldwide exchange." china's economy rebounds in the fourth quarter topping expectationes and snapping seven straight quarters of slowing growth. the british government says there's no indication the hostage crisis is over in algeria. this as reports emerge that dozens may have been killed in the rescue operations. >>> intel
influx of patients coming into the hospital. it's really sort of taxed the entire hospital system. we have patients in our emergency room, have crowded a lot of patients in the emergency room. we've used a lot of techniques to accommodate the influx of patients we've seen. >> are you seeing at least at press, are other hospitals, those extraordinary measures that some have taken, are they beginning to pull back a bit? >> we're not pulling back yet. as i said, we've seen a slight decline in the last couple days. but we want to make sure it actually starts falling considerably before we pull back. we've got additional staff on board. we've opened up additional units in order to take care of these patients. we've created new protocols in our emergency room to tri to triage them so make sure they're not mixing with the other patients. those policies will still be in place for the next couple weeks likely. >> in kitchens, and offices around the country, people are still talking about whether to get a vaccination, right? >> yes. >> they can start as early as october. if you haven't gotten a
, how can you do that? you'll pay a big tax. well, apparently the repatriation is a lot more doable than they're being given credit for. i don't know exactly what that means, we'll bring it back once we do the lbo. the big question is why current management considered buying back stocks. there's a special committee here, of course. we'll see whether they can get to a price that every side agrees on and that shareholders will approve. >> yesterday, most of the day was spent pooh-poohing this deal. because of the repatriation. because of the equity check. >> it seemed to be insurmountable because the club deals are frowned upon at this point. >> then i want to ask you whether this is some sort of sea change. because this is obviously a much smaller check. yesterday we said it would be $8 billion. >> no, $4 billion to $5 billion. >> what i'm saying is, this is a rival departure from what we've seen from the little money put up. >> given the size of the hlbo - >> top line doesn't matter. this company's bottom line is larger than the top line. >> the other thing is, you've got credit markets
trading, though. there are certain names people want to be involved with. for tax reasons, people got out of that last year and many of them put their money back into the market through facebook. it will be interesting to see after a month or a month and a half what happens after that money switches back into apple. we need apple to come out with something exciting. this is the first time the blackberry 10 had that excitement. when was the last time a company besides apple had that much excitement around a company? >> and so when the retail investor if and when they had come back, that you would often be a signal saying that often looks at retail value. when everyone wants to be at the same place, that's probably not where they want to be. >> it's tough for them to go all in and i see that. so i agree with a lot of what you're saying. but the one thing i would say to retail investors is work your way in slowly so you can wroo the time to buy down drafts. retailers make the mistake of going in at levels like this and then when we have a sell-off, it panics them out. >> same analogy to 401(
, this is making a comeback. read a story on munis. there's tax issues we might revis revisit. real quickly, the spreads are starting to widen. maybe that's why businesses really at that point in these markets while the tapping is good. >> thank you, rick. survey monkey. it's a web-based survey company has raised $800 million in debt. one of the largest and one of its newest investors happens to be google. kayla tausch has been following this. >> thank you, dave, for being here. rare east costa peerns to announce this newest round of funding. $800 million. no small amount. more than most spaul public companies raise going public. >> we've been working on this for over a year. we decided there's a lot of good reasons to go public. if you need capital, you need equity and if you just need liquidity and you could find that from being private, we said if there's a good way to do it and get liquidity for investors and employees was do that. we brought in new equity and brought in debt. >> raising debt for a private growth-oriented technology company. not something that happens very often. i know
't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it is for stock returns. >> maria, can i jump in here for a moment. >> i think, rick, got to stop looking at the glass being half empty. it will be a weak fourth quarter but that's mostly because of weak exports and inventories. the u.s. consumer doing pretty well. >> what about all the activity we pulled from the first quarter based on the fiscal cliff you? think the first quarter is really going to be that much better? >> look at the information we have now. a pry pry try survey done by isi of home builders and said january will be a blockbuster month for home building, and let me bring up two other points that don't get mentioned here. the mortgage foreclosure settlement and a couple other things on the regulatory front, the liquidity ratios being eased up, a very good environment for lending, very solid for housing. i can see a lot more reasons to be positive than negative right now. >> if interest rates went up 100 basis p
to the valuations. >> oil, oil service and the consumer can get hurt here, too. don't forget about the taxes coming to fruition here as well, but what we're seeing here is kind of a united states corporate america that's really focusing on america, on building jobs. walmart saying they are going to spend $50 billion over the next ten years on u.s. goods. apple saying that they are bringing back manufacturing to the united states from asia, ge for the past couple of years, billing factories in the u.s., and i think we'll continue to see that which gives people a comfort level. it's buy american again, and i think that that helps move us forward. >> very good. sam, thank you, i'll see you on the countdown coming up in a few minutes here. >> thank you so much. >>> ten minutes before the closing bell sounds for the day. a market holding on to the gains. up 96 points, shy of the high of the afternoon. >> mortgage banking revenues surged by 71% at bb&t, but if refis drop off, what happens to their bottom line? we'll speak with ceo kelly king. >> and later i'll speak with the ceo of the nation's largest m
. not going to save our way out or tax our way out, but those things do matter. i'm glad ceos are spending time expressing their thoughts on these issues. >> but we're living cliff by cliff. >> yes. >> it's amazing to me that we haven't, you know, put out real solutions. has this, do you think, become an impediment for business? has it become an impediment for your business that all this uncertainty and the fact that we can't make any decisions in washington, even though the corporate balance sheet is quite strong. >> absolutely. what did we talk about in december? nothing but fiscal cliff. it even drove santa claus off the front page. all we talked about. >> that's true. >> now the debt ceiling and then it's sequester and the continuing resolution. we go from this cliff to that cliff, and we don't deal with the problem. if we deal with the problem, there's so many assets in america. we can grow our way out of this. >> let me ask you about getting out of a problem and for many it's regular laying. after the 2008 upset, the banking sector has faced much higher regulation. things are changin
company, you're not paying it. the decision when you spend the money or raise taxes -- >> thank you very much for your answer. hope you will come back and join us again sometime. >> thank you. >> second inauguration of president obama takes place on monday, january 21st. that will martin luther king, jr. he will be sworn in on the day before, the 20th, as per the constitution. i will host a special cnbc event. it begins at 11:00 a.m. eastern time. that is, monday, martin luther king, jr. day. >> sue? >> ty, shares of lululemon continue to be under pressure on the back of the latest outlook. what is ahead for the yoga appear el maker? courtney is live in miami. courtney? ♪ ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. how did i know? well, i didn't really. see, i figured low testosterone would decrease my sex drive... but when i started losing energy and became moody... that's when i had an honest conversation with my doctor. we discussed all the symptoms... then he gave me some blood tests.
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